Global crude oil prices recorded their first decline since February 28, 2026, following signals that the conflict involving Iran, the United States, and Israel may soon de-escalate.
Market data showed that the Brent crude benchmark fell to $91.11 per barrel, while West Texas Intermediate (WTI) dropped to $86.93 per barrel, after both previously traded close to the $100 per barrel mark.
The downward movement in prices came after comments by United States President Donald Trump, who suggested that the ongoing confrontation with Iran could be nearing its end.
Speaking during an interview with CBN News on Monday, Trump said, “I think the war is very complete, pretty much.” He added that the United States was “very far ahead of schedule.”
The remarks quickly influenced global oil markets, with WTI crude slipping below $90 per barrel shortly after the interview aired.
The decline follows nearly ten consecutive days of rising oil prices. During that period, crude surged sharply from about $67 per barrel, driven by heightened geopolitical tensions in the Middle East.
The conflict had disrupted activities around the strategic Strait of Hormuz, a critical global oil shipping route, and forced the shutdown of some refineries in Saudi Arabia and Qatar, contributing to the spike in global oil prices.
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